Gateway Energy Announces 10% Savings vs. PECO

MONTEBELLO, N.Y., Oct. 28 /PRNewswire/ -- Gateway Energy Services announced today its fixed-rate offer for electricity, representing 10% savings for residents when compared with PECO's first-quarter price to compare.

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Gateway's fixed rate for electricity supply of 8.9 cents per kWh will provide residents with a 10% savings over PECO's recently announced 9.92 cents per kWh in effect January 1- March 31, 2011. Gateway's rate is guaranteed through June 30, 2011, providing definite savings on residents' supply charges in the first quarter of 2011 and savings of 12% compared with PECO's estimated residential price to compare for the second quarter, April 1- June 30, 2011, of 10.16 cents per kWh.

As a result of PECO's rate increase effective October 28 and the removal of PECO's rate caps on January 1, 2011, residents will see their supply charges (about two-thirds of the total bill) increase by more than 31%. PECO will update its price to compare on a quarterly basis based on market conditions.

"While everything we need seems to be increasing in price, Gateway is pleased to be able to offer savings," said Steve Maslak, president and CEO. "Our nimble energy-buying capabilities allow us to quickly take advantage of changes in market pricing. We fully expect that our prices will remain competitive beyond the term of our initial offer."

As an added incentive, Gateway is offering customers a $50 Visa® prepaid card to sign up online at www.gesc.com/peco, the simplest and fastest method to enroll. Gateway customers also receive SmartWatch, the company's monthly e-newsletter filled with energy-saving tips, energy news and market information.

Gateway Energy has been serving residents and businesses since 1997. This year, the company played a leadership role in New Jersey's residential electricity market, capturing nearly half of all customers who chose an alternative electricity supplier. Gateway has operated in Pennsylvania since PPL's rate caps came off in January of this year, when it made headlines by launching the lowest price of any supplier in that area. Late in 2009, Gateway made a significant investment in eastern Pennsylvania by opening a satellite call center in Luzerne County, which employs more than 50 local residents.

"Our low rates and superior service have contributed to Gateway's becoming a market leader in PPL and in all of New Jersey," said Maslak. "We are confident that when consumers in PECO's service area consider the whole package, Gateway will emerge once again as the top contender for best value."

About Gateway Energy Services

Gateway Energy Services Corporation, based in Montebello, Rockland County, N.Y., is one of the largest independent retail energy suppliers in North America, providing natural gas and electricity to thousands of residential and business customers in more than 35 deregulated energy markets across eight states, the District of Columbia and Ontario, Canada. Founded in 1997, Gateway Energy provides competitive energy products to consumers giving them more control over their energy costs. (Visit us online at www.gesc.com and follow us on Facebook at Gateway Energy Services and Twitter at http://twitter.com/GESCcom.)

SOURCE Gateway Energy Services